Trade liberalisation has provided a substantial boost for Vietnam’s economic growth. Trade openness, measured as the ratio of import plus export over GDP, has been rising steadily, reaching over 200 per cent last year, higher than most ASEAN countries except Singapore. The country has also proved to be one of the most attractive foreign direct investment (FDI) destinations in the region. FDI accounts for approximately 50 per cent of output and 70 per cent of exports in manufacturing. The share of FDI in gross investment has also risen from 14.9 per cent in 2007 to 23.4 per cent in 2018. … [Read more...] about New decade of growth built on diligent and smart work
Recycled materials in construction
Earlier in June, the country banned imports of used machinery, equipment and technological chains that were more than 10 years old to stop outdated, poor quality, polluting and unsafe used machinery, equipment and production line technology being used in the country. … [Read more...] about Việt Nam tightens imports of outdated machines
They all find inspiration from dogs – the animal designation of this year, creating a variety of feelings among the gallery’s visitors. The exhibition is expected to become a unique event to celebrate the year 2018 and become a highlight for Vietnamese arts this year. Mother and Baby Dogs by Pham Ha Hai. … [Read more...] about Hanoi: Dog paintings show celebrates Year of the Dog
I can’t speak for other expats but I felt APEC was an underwhelming spectacle of sirens, motorcades and young policemen repeatedly waving their traffic truncheons in the pouring rain. It was a bizarre feeling as roads became deserted while other avenues were lined with crowds waiting to catch a glimpse of someone in a black tinted car whizzing pass. … [Read more...] about APEC and Damrey in Vietnam: Whew! It’s over!
The biggest challenge in the industry is a lack of input materials when until now, we still rely heavily on raw materials from non-CPTPP member countries. Meanwhile, the development planning of the industry and material areas are also lacking and incomplete. In the long term, businesses have to step up their games by localising input materials, but it needs a hands-on approach from the government. The supply chain will ensure Vietnam takes advantage of FTAs that it signed and reaches sustainable development goals. … [Read more...] about Textile sector set for success